Sarasota, FL -- (SBWire) -- 03/19/2019 --Global Healthcare Reimbursement Market: Overview
The healthcare reimbursement system across the world is a highly complicated framework to obtain repayment regarding healthcare services. Among the primary concerns of the healthcare reimbursement system are the rules that govern healthcare reimbursement policies are prone to frequent alterations. Furthermore, the government payers sometimes change these rules governing this system on a daily basis. The demand and popularity of the healthcare reimbursement market across the globe can be attributed to the rising cost of prescribed medication by healthcare professionals.
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Global Healthcare Reimbursement Market: Growth Factors
The major growth driver of the global healthcare reimbursement market in the future is the rising cost of prescribed medication by healthcare professionals. Other factors that are anticipated to contribute notably toward the expansion of the healthcare reimbursement market globally over the estimated timeframe include the favorable government initiatives and the presence of a large number of private players in the market. The number of private health insurance companies providing health coverage in the U.S. is above 125.
However, several incidences of fraud related to federal and state government health care programs may hinder the growth of the healthcare reimbursement market on a global scale.
Global Healthcare Reimbursement Market: Segmentation
The global healthcare reimbursement market is categorized into payers, service provider, and claim. The payers segment of the healthcare reimbursement market includes public payers and private payers. The private payers segment dominated the global market in 2018 and is anticipated to remain dominant over the forecast timeframe as well. This can be attributed to the presence of a large number of private players in the market. By service provider, the global healthcare reimbursement market is segmented into diagnostic laboratories, hospitals, physician offices, and others. On the basis of the claim, the market for healthcare reimbursement market is fragmented into full paid and underpaid. The underpaid payers segment held the largest share of the global healthcare reimbursement market in 2018, due to the unnecessary utilization of healthcare services and an increasing number of false claims.
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Global Healthcare Reimbursement Market: Regional Analysis
By region, this global market is primarily divided into Asia Pacific, North America, the Middle East and Africa, Europe, and Latin America. The North American market for healthcare reimbursement is likely to lead the global market in the years ahead. This can be attributed to the presence of a substantial number of market players and well-developed repayment structure related to healthcare. Furthermore, in the U.S., the Affordable Care Act mandates the inclusion of healthcare reimbursement policy for citizens. All the states in the U.S. that did not comply with this act were penalized by the government. Europe is the second largest healthcare reimbursement market globally. This regional share can be attributed to the rapidly increasing geriatric population base in the region that is prone to a wide range of perpetual illnesses, such as respiratory infections, cardiovascular sicknesses, atherosclerosis, etc. Additionally, the human services frameworks are also growing quickly regarding the region's appropriation of execution-based repayment structures, which, in turn, is also likely to drive the European healthcare reimbursement market.
Global Healthcare Reimbursement Market: Competitive Players
Some most important players of the global healthcare reimbursement market are Agile Health Insurance, WellCare Health Plans, The Blue Cross Blue Shield Association, Nippon Life Insurance, Aetna, BNP Paribas, CVS Health, Allianz, Aviva, and UnitedHealth Group, among others.
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Global Healthcare Reimbursement Market: Regional Segment Analysis
North America
The U.S.
Europe
The UK
France
Germany
The Asia Pacific
China
Japan
India
Latin America
Brazil
The Middle East and Africa
Healthcare Reimbursement Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026